Direct Assurance (Paris), a French provider direct insurance offering auto, motorcycle, home and health insurance, and wholly owned subsidiary of the AXA group, has expanded its agreement with Shift Technology (Paris), a provider of artificial intelligence-based decision automation and optimization solutions for the insurance industry. Initiated in 2018 to fight auto insurance claims fraud using Shift Claims Fraud Detection, the relationship now extends its scope to cover home insurance claims, according to a Shift statement.
Shift notes that property/casualty insurance fraud costs the European economy €14 billion annually, and €2.5 billion in France alone. That being the case, the vendor says, insurers are looking for modern solutions which can more effectively identify and analyze suspicious claims. Shift reports that after five years of successful collaboration analyzing motor claims prompted Direct Assurance to extend the use of the vendor’s solutions to the challenge of mitigating fraud in home insurance claims.
“Fighting against fraud is one of the most effective ways to maintain the competitiveness of our rates and defend the purchasing power of the immense proportion of our bona fide customers,” comments Donatien Levesque, director of claims, Direct Assurance.